On Long Island, Northwell Health says it will close its Obamacare subsidiary due to the uncertainty in the health insurance market. They will remove it from the New York State insurance market in 2018.
CareConnect has 126-thousand individual and small-group insurance policies. Slightly more than half are on Long Island. They will remain covered until transferred to new providers.
Northwell said CareConnect is unprofitable due to payments into the risk-adjustment pool. It also said the federal government has reneged on its payments.
CareConnect was the first insurance company in the state owned by a healthcare provider.
